Vietjet Appoints Khuat Viet Hung, Nguyen Thanh Son to Board; New CEO from April 2026

Overview

Vietjet Aviation Joint Stock Company (VJC) has announced senior leadership changes, appointing Mr. Khuat Viet Hung and Mr. Nguyen Thanh Son to its Board of Directors. Mr. Son will also assume the role of Chief Executive Officer effective April 29, 2026, replacing Mr. Dinh Viet Phuong, who becomes First Vice Chairman. The appointments come as Vietjet reports strong financial results for 2025 and Q1 2026.

Key Facts

• Mr. Khuat Viet Hung, former Chairman of the Member Council of Hanoi Metro, appointed to Vietjet’s Board of Directors effective April 24, 2026.
• Mr. Nguyen Thanh Son appointed to the Board and as CEO, effective April 29, 2026, replacing Mr. Dinh Viet Phuong.
• Mr. Dinh Viet Phuong, previously CEO, elected as First Vice Chairman of the Board for the 2022-2027 term.
• Vietjet reported 2025 net profit of VND 2,123 billion, up 51.2% year-on-year, exceeding its plan by 20%.
• Q1 2026 consolidated net profit reached VND 1,023 billion, up 59.6% year-on-year.
• As of March 31, 2026, total assets stood at VND 143,534 billion, with a net debt-to-equity ratio of 2.1x.
• Vietjet operates 135 aircraft across 254 routes, carrying 28.2 million passengers in 2025.

What Happened

Vietjet announced the appointment of Mr. Khuat Viet Hung and Mr. Nguyen Thanh Son to its Board of Directors for the 2022-2027 term, effective April 24, 2026. Mr. Hung previously served as Chairman of the Member Council of Hanoi Metro, a position he left on April 15 at his personal request. Mr. Son, a new board member, will also take on the role of CEO from April 29, succeeding Mr. Dinh Viet Phuong, who moves to First Vice Chairman. The changes were disclosed in a company filing.

The leadership reshuffle follows a period of strong operational and financial performance. In 2025, Vietjet posted net profit of VND 2,123 billion, up 51.2%, and revenue of VND 82,093 billion. In Q1 2026, net profit rose 59.6% to VND 1,023 billion, with revenue up 17.1% to VND 21,021 billion. The company also highlighted its fleet expansion plans, including orders for 100 Airbus A321neo, 50 purchase rights, and 20 Airbus A330neo.

Market Context

VJC shares closed at VND 176 on April 15, 2026, up 5.82% on volume of 2.5 million shares, reflecting positive market sentiment. The stock trades on HOSE and has benefited from the aviation sector’s recovery and Vietjet’s aggressive expansion. The leadership changes come as the airline plans to enter long-haul markets such as Europe and the US, requiring experienced management.

Strategic Significance

The appointments signal Vietjet’s focus on strengthening corporate governance and operational leadership as it scales internationally. Mr. Hung’s background in infrastructure (Hanoi Metro) may support Vietjet’s investments in maintenance facilities, such as the Long Thanh maintenance center. Mr. Son’s appointment as CEO provides continuity while Mr. Phuong moves to a board role, potentially allowing the company to leverage his experience in a strategic capacity. The timing aligns with Vietjet’s fleet expansion and entry into new markets.

What to Watch

• Q2 2026 earnings release to assess whether growth momentum continues.
• Updates on Vietjet’s international route expansion, particularly to Europe and the US.
• Progress on the Long Thanh maintenance center and other infrastructure investments.
• Any further board or management changes as the new team settles in.
• Fleet delivery milestones for the A321neo and A330neo orders.